EXIM Bank re­leases Rs5.5b loan for Metro Train

Pakistan Observer - - FRONT PAGE - STAFF RE­PORTER

LA­HORE—EXIM Bank of China has re­leased first in­stall­ment of loan for La­hore Or­ange Line Metro Train Project and has trans­ferred a sum of Rs. 5.5 bil­lion into the ac­count CRNORINCO, the Chi­nese con­trac­tor of the project.

Kh. Ah­mad Has­san, chair­man of the steer­ing com­mit­tee, con­sti­tuted by the Chief Min­is­ter Pun­jab Shah­baz Sharif for LOMTP, dis­closed this while chair­ing a meet­ing on Wed­nes­day to review the on­go­ing progress on the project.

He in­formed that on its in­au­gu­ra­tion, the train will pro­vide a safe, ef­fi­cient and eco­nomic mode of trans­port ini­tially to 300,000 pas­sen­gers daily through the densely pop­u­lated and busy com­mer­cial ar­eas of the pro­vin­cial me­trop­o­lis and the rid­er­ship will in­crease to 500,000 daily within next three years. The meet­ing was told that civil work was be­ing ex­e­cuted as per the fixed time­lines and so far about 30 per cent of the civil work of the project has been com­pleted.

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